First Quantum Minerals (TSE:FM) Posts Quarterly Earnings Results

First Quantum Minerals (TSE:FM) posted its quarterly earnings results on Wednesday. The company reported C($0.25) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$1.95 billion for the quarter. First Quantum Minerals had a negative return on equity of 0.24% and a negative net margin of 0.52%.

Here are the key takeaways from First Quantum Minerals’ conference call:

• Kansanshi’s new S3 sulfide circuit is performing about 25% above design, boosting throughput and supporting on?site sulfuric acid self?sufficiency with a potential surplus by end of Q2.
• Management warned of material cost pressures—higher diesel/fuel risk, a stronger Zambian kwacha and hedge losses—which drove a 14% rise in C1 costs, a ~30% decline in EBITDA and an adjusted loss per share of $0.18.
• The government approved processing of Cobre Panamá stockpiles (Resolution No. 27) and guidance includes 30,000–40,000 t of copper, with about $250M of upfront cash (CapEx, OpEx, working capital) that the company says will be roughly cash?neutral over the stockpile period.
• Balance sheet actions strengthened liquidity and tenor — an upsized $1.5B, 10?year unsecured bond (2036) repaid part of the RCF and allowed repurchase of secured 2029 notes, and the planned sale of Çayeli will unlock ~$340M.
• Long?term growth pipeline advanced as Taca Taca received a 43?101 technical report confirming attractive economics (after?tax NPV $5.9B, IRR ~19%) and an agreement with the IFC to align to international performance standards.

First Quantum Minerals Price Performance

Shares of TSE:FM opened at C$32.46 on Thursday. The company has a market cap of C$26.88 billion, a price-to-earnings ratio of -1,082.00, a PEG ratio of -1.28 and a beta of 1.50. The company has a debt-to-equity ratio of 52.92, a current ratio of 1.42 and a quick ratio of 1.41. The firm has a 50 day simple moving average of C$35.48 and a 200 day simple moving average of C$34.84. First Quantum Minerals has a one year low of C$17.66 and a one year high of C$45.17.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. BMO Capital Markets increased their price target on shares of First Quantum Minerals from C$40.00 to C$48.00 in a research report on Wednesday, April 22nd. Jefferies Financial Group increased their price target on shares of First Quantum Minerals from C$38.00 to C$47.00 in a research report on Monday, January 12th. Morgan Stanley reduced their price target on shares of First Quantum Minerals from C$40.00 to C$37.70 in a research report on Thursday, April 9th. Canadian Imperial Bank of Commerce increased their price target on shares of First Quantum Minerals from C$36.00 to C$46.00 in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus increased their price target on shares of First Quantum Minerals from C$47.00 to C$52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$42.33.

About First Quantum Minerals

First Quantum is engaged in the production of copper, nickel and gold, and related activities including exploration and development. The Company has operating mines located in Zambia, Türkiye and Mauritania. The Company’s Cobre Panamá mine was placed into a phase of Preservation and Safe Management in November 2023. The Company’s Ravensthorpe mine was placed into a care and maintenance process in May 2024. The Company is progressing the Taca Taca copper-gold-molybdenum project in Argentina and is exploring La Granja and the Haquira copper deposits in Peru.